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Economic Rationality and Corporate Social Irresponsibility: An Illustrative Review of Social Capital Theory.
Manning, Paul
Manning, Paul
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Abstract
Purpose The purpose of this chapter is to argue that utility maximisa- AU:1
tion, taken from a narrow economic understanding of rationality, frames
contemporary business school pedagogy and management theory. The
chapter will illustrate this observation by detailing the rational framing
assumptions in social capital literature. The chapter will argue that these
framing rational notions foster a perspective that inclines towards excessive
self-interest as well as a concomitant lack of fellow feeling or
morality.
Methodology Literature review
Findings The chapter demonstrates that the narrow economic understanding
of rationality that predominates as the framing notion in
management theory tends towards amorality as it privileges individual
self-interest. In consequence, the significance of ethics and cooperation
are under-reported and under-emphasised which leads to CSI. These AU:2
observations are discussed with reference to social capital theory.
Research implications To consider the significance of the underacknowledged
rational background or framing perspectives in distorting
theory and empirical research in social capital literature, and more generally
in contemporary management literatures and business school
pedagogy.
Social implication There is a need to re-examine and challenge the
validity and application of rational notions in contemporary management
literatures and pedagogy.
Originality The chapter identifies that a narrow utility maximising
understanding of rationality frames and therefore inhibits current management
literatures and pedagogy, including social capital literature.
Citation
Manning, P. (20120. Economic Rationality and Corporate Social Irresponsibility: An Illustrative Review of Social Capital Theory. In R. Tench, W. Sun, & B Jones (Eds.), Corporate Social Irresponsibility: A Challenging Concept: Critical Studies on Corporate Responsibility, Governance and Sustainability, Vol 4 (pp.111 – 134). Bingley, UK: Emerald Group Publishing Limited.
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Emerald
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Book chapter
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9781780529981